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Cheese prices at all-time highs

Domino's Pizza shares hit another lifetime high last week.

March 17, 2014 by Alicia Kelso — Editor, QSRWeb.com

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Wheat and cheese prices continued their climb last week. Wheat is up 35 cents just within the past week. Cheese, meanwhile, is at an all-time high, driven in large part by greater consumption in the China market, according to Bloomberg.

Here's a glimpse at the market this week.

Cheese

Cheese prices continued to rise last week, averaging $2.33 on the Chicago Mercantile, from $2.24 the week prior.

A year ago, cheese averaged about $1.60.

Last week, prices closed at $2.30 Monday, $2.32 Tuesday and Wednesday, $2.35 Thursday and $2.36 on Friday.

Wheat

Wheat prices also jumped last week, averaging $7.50 on the Minneapolis Grain Exchange, from $7.15 the week prior. Wheat prices were as low as $6.02 in January.

Last week, prices closed at $7.46 Monday and $7.51 Tuesday through Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel today is $3.52, another jump from $3.48 the previous week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.33.

Last year at this time, consumers were paying $3.68 at the pump.

Today's mid-range unleaded is $3.70, from $3.67 the week prior. Premium gas is $3.87, from $3.83 the week prior.

Diesel fuel prices are averaging $4, even from $4 the week prior. The price of diesel fuel was $3.95 a month ago, and $4.06 a year ago.

Natural gas

With temperatures rising in most of the United States, natural gas spot prices declined during the report week (March 5 through March 12) at most locations. The Henry Hub spot price averaged $4.66 per million British thermal units (MMBtu) March 12, a $1.75/MMBtu decrease for the report week.

At the New York Mercantile Exchange (Nymex), the April 2014 contract decreased to $4.490/MMBtu, a 3.3 cent/MMBtu decrease for the report week. The contract had increased to $4.605/MMBtu through trading on March 11, but its price dropped March 12 by 11.5 cents/MMBtu.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $75.83, down from $77.29 the week prior. The company hit a new 52-week high in November, at $78.68. Its 52-week low was a year ago at $63.16.

Domino's finished last week at $78.91, down slightly from $79.19 the week prior. DPZ is trading at a lifetime high, hitting $80.47 earlier last week. The company's 52-week low was $49.01, a year ago.

Papa John's shares finished last week at $52.52, down from $53.13 the week prior. PZZA also hit a new 52-week high earlier in the week at $54.17. Its low of $29.50 was a year ago.

Pizza Inn Holdings closed out last week at $6.02, from $6.12 the week prior. The company's 52-week-high was $9.18 in May. It traded as low as $3.80 a year ago.

Photo provided by Wikipedia.

About Alicia Kelso

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Alicia has been a professional journalist for 15 years. Her work with FastCasual.com, QSRweb.com and PizzaMarketplace.com has been featured in publications around the world, including NPR, Good Morning America, Voice of Russia radio, Consumerist.com and Franchise Asia magazine.

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